The proposed acquisition will expand URS’s infrastructure capabilities in the UK across a range of markets, including rail and transit, transportation infrastructure, and ports and harbors.
The proposed acquisition will also enhance URS’s global capabilities by affording it with an expanded global presence to support the global client base of the combined group. In the company’s 2010 fiscal year ending May 2, 2010, Scott Wilson had revenues of approximately $510 million and net income of approximately $20.4 million. Around 72 percent of the company’s fiscal 2010 revenues came from the UK and Ireland, with the balance generated by Asia Pacific (12 percent), Europe (nine percent), the Middle East (four percent) and India (three percent). The company’s order book stood at $366 million at the end of its 2010 fiscal year. URS Corporation provides engineering, construction and technical services for public agencies and private sector companies around the world.
The company offers a range of program management; planning, design and engineering; systems engineering and technical assistance; construction and construction management; operations and maintenance; and decommissioning and closure services. It provides services for power, infrastructure, industrial and commercial, and federal projects and programs. Commenting on the deal, Martin M. Koffel, chairman and chief executive officer of URS, said: “The proposed acquisition of Scott Wilson is a compelling transaction for URS and an important step forward in our strategy to expand our capabilities in the U.K. infrastructure market and in other key regions around the world. “Upon completion of this transaction, we expect URS would be among the top ten U.K. engineering firms by revenue, with the added scale and expertise to perform some of the largest and most complex infrastructure assignments in the country.” He continued: “Scott Wilson’s market sectors are also well aligned with URS’ existing focus.
In addition to its strong infrastructure practice, Scott Wilson is well positioned in the environment and natural resources sectors, including the nuclear power market, which is a key area of strength for URS.” Geoff French, chairman of Scott Wilson, said: “This offer reflects the underlying value of Scott Wilson’s business and provides our shareholders with an opportunity to realise that value in cash today. In addition, as part of an enlarged and global group, our employees will be able to participate in larger and more complex projects, as well as benefit from further investment in new areas of expertise.
“We are extremely excited about our future with URS and look forward to providing our clients with access to an enlarged global footprint and an ability to service their needs across a wider range of services and sectors.” San Francisco-based URS Corporation has approximately 42,000 employees in a network of offices in more than 30 countries. Headquartered in the UK, Scott Wilson has a worldwide network of 80 offices and more than 5,500 employees.
